When a Firm's Long-Run Average Total Costs Do Not Vary

question 96

Multiple Choice

When a firm's long-run average total costs do not vary as output increases, the firm exhibits

• A)economies of scale.
• B)constant returns to scale.
• C)diseconomies of scale.
• D)an efficient use of resources.

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Definitions:

Interviewees' Responses

the answers or feedback provided by individuals who are being interviewed.

Marcus Buckingham

Known for his work on strengths-based management and leadership, he is an author and business consultant focusing on talent development.

Donald Clifton

A psychologist and business executive known for his work in the field of strengths-based psychology and the development of strengths assessment tools.

Mihaly Csikszentmihalyi

A Hungarian-American psychologist recognized for his work on the concept of “flow,” a state of heightened focus and immersion in activities.